Monday, June 11, 2007

Shoretel Sets IPO Terms

Sunnyvale-based Shoretel has set terms of its IPO, saying in a filing with the SEC this morning that it will offer 7.9M shares of its common stock at between $8.50 and $11.50 per share. The firm will trade on the NASDAQ Global Market as SHOR. The firm's IPO is being underwritten by Lehman Brothers, JPMorgan, Piper Jaffray, JMP Securities, and Wedbush Morgan Securities. The firm is backed by Crosspoint, Foundation Capital, Lehman Brothers Venture Partners, JPMorgan, and others.